Key trends shape Vietnam’s digital landscape in 2024

Gen Z is poised to become a highly influential demographic (Source: Meta)  

Hanoi (VNA) – The landscape of social media in Vietnam is set to witness the dominance of Gen Z (those born from 1996-2012), the surge of the solo economy, the proliferation of short videos, and the integration of artificial intelligence (AI) as prominent trends in 2024.

For businesses focusing on building customer care channels, Meta's social media platforms such as Facebook, Instagram, Messenger offer a significant advantage over traditional platforms like email or search engines, namely, the ability to evoke responses and create demand. Therefore, keeping up with trends will become an effective tool to support business activities.

Khoi Le, Vietnam National Market Director of Meta, the owner of the world's largest social media platform Facebook, shared the prominent social media trends on Meta's platforms that businesses can not overlook in 2024.

Boom of Gen Z

Gen Z is gradually increasing their influence as they begin to earn income, open bank accounts and engage in business activities. At present, the Asia-Pacific has over 500 million Gen Z people.

By 2025, this group is estimated to make up a quarter of the region's population. Meta's annual SYNC report indicated that Gen Z will emerge as a potent and influential demographic, especially in Southeast Asia where young people are closely intertwined with technology and digital devices, with 82% of survey respondents expressing their involvement in online communities.

Solo economy

The SYNC report revealed that escalating trend of small or single-member households, with three Southeast Asian countries among the top 10 in the Asia-Pacific leading the shift.

Strong growth of small and single-member households in Vietnam (Source: Meta)

In Vietnam, small and single-member households are the fastest-growing demographic, with an annual compound growth rate of 1.1% from 2023 to 2030.

This trend is propelling the demand for single-use products, household electronics, and essential small-sized products. Single consumers, in turn, tend to spend more time on personal electronic devices and social media, join online communities and follow content creators.

Artificial intelligence

The year 2023 witnessed remarkable strides in AI and Generative AI.

According to Khoi Le, the report showed that up to 45% of consumers regularly make purchases on e-commerce platforms after seeing information on Facebook/Instagram, with 20% directly buying products on Facebook.

Furthermore, AI also further enhances advertising efficiency as Meta's platforms use AI to optimise automation features for advertisers.

Leveraging advanced AI technology, Khoi Le said Meta plans to increase resources to assist firms in boosting business efficiency throughout 2024.

Rise of chat commerce

Research from the Boston Consulting Group (BCG) and Meta showed that on average, one in three Vietnamese consumers messages a business at least once a week.

Moreover, Vietnam is among the countries with the highest Chat Commerce adoption rates, with 73% of survey participants using this feature to interact with businesses.

According to advertisers' feedback, Meta's Chat Commerce solution increases order value by 22%, delivering higher effectiveness compared to traditional channels like SMS, email, or other apps.

Khoi Le predicted that in 2024, this trend will continue to spread, with users expected to perform various activities through messaging such as booking travel, scheduling appointments, receiving support, or shopping.

Short videos

The reports by Meta and Factworks revealed that millennials are particularly engaged with the Reels feature (short videos on Facebook) while the proportion of Gen Z individuals following businesses' activities on digital platforms, tagging brands or products in posts and making purchases after watching Reels is higher.

Sharing Reels has become a means of expressing interest, with 84% of respondents in the Asia-Pacific frequently sharing Reels with friends or families.

Up to 67% of survey participants acknowledged discovering suitable brands and products from content creators on Meta's platforms at least weekly, a figure approximately 20% higher than on other platforms./.